Joe, Home Seller in 85143

Retainer fees to broker on short sale

Asked by Joe, 85143 Fri May 6, 2011

began my short sale November , 2010 and was charged retainer fees by the agent. The MARS rules said the seller should not paid any upfront cost to agent in a short sale transaction. Am I beeing ripped off ?

Help the community by answering this question:

Answers

2
Mark D Fleysher, MBA’s answer
It depends how good the agent is at short sales. A retainer may be held for any transaction, and is suggested with short sales because the agent is likely putting inal a lot of time, knowledge, and skills into the short sale with a chance of not making an honest earning if the short sale isn't approved likely in response to the seller not being qualified or starting the process too late.

You can find any agent to take on your short sale, but the great agents do know that their time is valuable, and a short sale often comes down to the owners qualification, timeliness, and cooperation.

Cheers!
1 vote Thank Flag Link Fri May 6, 2011
Joe

Did you get your house sold?
0 votes Thank Flag Link Tue Aug 7, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer